Top 50 banking GK questions and answers for Bank PO Exam 2025

Bank PO Exam GK Questions with Answers: Preparing for Bank PO, IBPS PO, SBI PO, or RRB PO exams requires more than just reasoning and quantitative aptitude. Banking awareness and finance GK play a crucial role, often overlooked by candidates. This section not only boosts your overall score but also demonstrates your understanding during interviews and group discussions. Banking awareness goes beyond bank names and RBI's full form; it encompasses monetary policy, RBI's role, banking schemes, digital payment systems, financial terminology, and current banking events. Here are 50 important banking and finance GK questions frequently asked in Bank PO exams.

Banking Awareness and Finance GK Questions with Answers

1. When was RBI established?

Answer: April 1, 1935

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2. Where is RBI's headquarters located?

Answer: Mumbai

3. When was RBI nationalized?

Answer: January 1, 1949

4. Who was the first governor of RBI?

Answer: Sir Osborne Smith

5. Who was the first Indian governor of RBI?

Answer: CD Deshmukh

6. Who is the current governor of RBI (2025)?

Answer: Sanjay Malhotra

7. How many times a year is RBI's monetary policy announced?

Answer: 6 times (bi-monthly)

8. What is the full form of SDF?

Answer: Standing Deposit Facility

9. What is the full form of CRR?

Answer: Cash Reserve Ratio

10. What is the full form of SLR?

Answer: Statutory Liquidity Ratio

Bank PO Exams: Banking Instruments and Services GK Questions and Answers

11. What does NEFT stand for?

Answer: National Electronic Funds Transfer

12. What does RTGS stand for?

Answer: Real Time Gross Settlement

13. What is the full form of IMPS?

Answer: Immediate Payment Service

14. What is the full form of UPI?

Answer: Unified Payments Interface

15. How many characters are there in an IFSC code?

Answer: 11 characters

16. What is MICR code?

Answer: Magnetic Ink Character Recognition

17. What is the use of SWIFT code?

Answer: For international transactions

18. What does NACH stand for?

Answer: National Automated Clearing House

19. What is the maximum validity of a bank check?

Answer: 3 months

20. What is the full form of KYC?

Answer: Know Your Customer

21. Which is the largest bank in India?

Answer: State Bank of India (SBI)

22. In which year were Regional Rural Banks established?

Answer: 1975

23. Which sector does NABARD work for?

Answer: Agriculture and rural development.

24. What is the full form of SIDBI?

Answer: Small Industries Development Bank of India.

25. What is the function of EXIM Bank?

Answer: Export and import financial assistance.

26. What is a Scheduled Bank?

Answer: Banks listed in the Second Schedule of the RBI Act.

27. What are Co-operative Banks?

Answer: Banks operated on a cooperative basis.

28. What are Payment Banks?

Answer: Banks facilitating small financial transactions.

29. When did India Post Payments Bank start?

Answer: September 1, 2018

30. What is the full form of PSB?

Answer: Public Sector Bank.

Bank PO Exams 2025: Banking Schemes and Insurance GK Questions and Answers

31. When was PM Jan Dhan Yojana launched?

Answer: August 28, 2014

32. Who can avail the benefits of PM Jeevan Jyoti Bima Yojana?

Answer: Life insurance (for those aged 18-50)

33. What is the premium for PM Suraksha Bima Yojana?

Answer: ₹20 per year

34. What is the objective of Atal Pension Yojana?

Answer: Pension for unorganized sector workers.

35. What is the digital currency pilot launched by RBI?

Answer: e₹ (digital rupee)

36. What is the full form of FCRA?

Answer: Foreign Contribution Regulation Act.

37. Which organization operates the Bharat Bill Payment System?

Answer: NPCI

38. What is the Pension Fund Regulatory Authority?

Answer: PFRDA

39. What is the function of IRDAI?

Answer: Regulating the insurance sector

40. What is the full form of LIC?

Answer: Life Insurance Corporation

Financial Terms and Committees GK Questions and Answers

41. What does Inflation mean?

Answer: Price rise

42. What does Deflation mean?

Answer: Decline in price levels

43. What is Repo Rate?

Answer: Lending rate by RBI to banks

44. What is Reverse Repo Rate?

Answer: Interest on deposits made by banks with RBI

45. What is Base Rate?

Answer: Minimum interest rate at which a bank can lend

46. Who launched the Bank Ombudsman scheme?

Answer: RBI

47. What does NPA stand for?

Answer: Non-Performing Asset

48. How is inflation measured?

Answer: Consumer Price Index (CPI)

49. Which organization issues Credit Score?

Answer: CIBIL

50. What is the purpose of Bharat QR Code?

Answer: Cashless digital payments